Member Info for Molehead

At present there is a share buyback program in place. This will tend to support the share price as the company's brokers will buy on any weakness. I suggest that that will affect the market more than the US opening or closing.....

Current market cap is sub £60m of which cash makes up £25m so business valued at £35m. AUM is £9bn so valued at less than 0.4% of AUM. It's cheap but will someone buy it? Mike O'Shea must be looking for an exit soon. He's 64 and not getting any younger....

CHAR has zero debt and no spending commitments. I don't see an imminent rights issue/placing coming up.

"Nice to see our house broker drop the ask and allow almost 1mill share buy in at 18.25p, someone is loading up in this quiet time"
"Highly unlikely to be a sell...."
Well, the price dropped 7% yesterday so there is a seller around. If the house broker goes "on the offer" and sells 1 million shares it likely means he has a sell order from someone he helped buy in. The share price has risen over the last month so traders will take profits. All these reported trades are just that - one side buying the other selling. A skilful broker will try and sell for clients by lowering his offer price and buy by raising his bid price.

The effective share price is 17.9p. Rather higher than what is currently being quoted.

Your first post and it is completely irrelevant.....

Not sure about all the doom and gloom being posted here. Achieving a Gas Sales Agreement in principle is a pretty important milestone. The signature documents are no doubt being prepared. Dealing with governments is a lengthy process, especially here in the African continent. There are certain procedures and etiquettes that have to be followed. The fact that more gas is now being taken by Morrocco should be a positive as it ties in their interests to the overall success of the project. Once the GSA is officially signed off I suspect things will progress pretty quickly. All IMHO etc.

Many posters here need to read this. The fact that a trade is done at the quoted "bid" does not make it a "sell". Likewise, a trade done at the "offer" does not make it a buy. They are both deals between a "buyer" and a "seller". If I want to sell shares, I can instruct my broker to put them on the "offer" and wait for a buyer to "hit" the offer or I can instruct him to hit the highest bid.

What market makers?

Deal Breaker, You are quite correct. This has nothing to do with these mythical "MMs".....Chariot is listed on AIM which is an order driven market. As you say, liquidity can be v thin as evidenced by the UCT at the close on Friday of 4 shares. This alone took the price down 0.4p.

I'm not a TA either but the chart pattern looks like a W formation. Now on the last (upward) leg and may well hit 40p. If, however, CHAR find a buyer for their Namibian and/or Brazilian acreage, it could well whistle past 100p.....All IMHO, DYOR etc. .....

Whimax, it is Soc Gen London Office that has been appointed. Although the bank's senior contacts within Morocco will be handy, London will be arranging the debt placing

Aljimon,
My maths: High today is 26.6, Low today is 24.3 giving a mid 25.45. 5.45/20 = 27.25. 27.25 is a lot closer to 30 than 20.
I have seen many posts from people trying to encourage sellers by suggesting unlikely drivers to reduce share prices. Your post fits the bill. To reiterate, CHAR issuing more equity at a discount is most unlikely right now.

The possibility of a fund raise at 20p is approximately zero. CHAR does not currently need extra equity finance and 20p represents a 30% discount to the current share price.

Oh dear....
2 quid a share.... based on what? Your entry price?
Everybody should be aware of personal agendas here. The share price should increase based on what we know but be aware this is "speculation".......

Hopefully the team is busy getting everything in order for the BIG event - i.e. funding/partnering. If they don't need a capital raise why waste time on superfluous progress updates? It'll come good and we just need stay calm and patient.....